Offering price of AEGON common shares set at Euro 10.00 per bearer share

Vereniging AEGON (the 'Association') and AEGON N.V. ('AEGON') announce the placement of 350 million existing AEGON common shares at an offering price of EUR 10.00 per bearer share and USD 9.71 per New York share. The closing price of AEGON common shares on Euronext Amsterdam on Tuesday 17 September 2002 was EUR 10.04. The Association is selling 350 million shares, representing 24.4% of AEGONÂ's outstanding common shares.

Of the 350 million common shares being sold by the Association, 143.6 million common shares are being sold directly by the Association in an offering outside the United States in reliance on Regulation S of the United States Securities Act. The balance of 206.4 million common shares are being purchased by AEGON from the Association in connection with the placement in the market by AEGON in a global offering, including an SEC-registered public offering in the United States.

After the transaction, payment of related expenses, receipt of the interim dividend in 2002 on AEGON common shares and using other available funds, the Association will reduce its bank debt by EUR 1.8 billion to EUR 1.7 billion. The Association will invest EUR 2.064 billion in an increase in the paid-in capital on 440 million existing AEGON preferred shares held by the Association. The proceeds of the increase in the paid-in capital will be used by AEGON to retire senior debt.

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(source: Aegon)

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